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North Park Group
North Park Group was formed in December 2021 by Ryan Sullivan and Greg Topel. The founders drew on personal capital generated through prior manufacturing...
North Park Group
North Park Group was formed in December 2021 by Ryan Sullivan and Greg Topel. The founders drew on personal capital generated through prior manufacturing ownership to create a vehicle for long-term business ownership. The firm targets small and middle-market companies that have operated under family control for multiple decades. North Park Group acquires and operates manufacturing and distribution businesses. It deploys direct co-investments and SPVs rather than commingled funds. Confirmed holdings include Elec-Tron acquired in May 2022, Phoenix Electric acquired in August 2022, Dickey Manufacturing acquired in March 2024, and Arcadia GlassHouse acquired in January 2025. The firm maintains a North American footprint and partners with management teams on organic growth initiatives and add-on acquisitions. The operating team includes five named operating partners with prior P&L experience at industrial companies. North Park Group lists no additional offices beyond its Chicago base. In January 2025 the firm completed the acquisition of Arcadia GlassHouse, retaining the full employee base as it has done with every prior transaction. North Park Group maintains a permanent-capital structure that removes external fund timelines. This allows it to partner directly with sellers on transition terms and to remain involved in daily operations for an extended period after closing.
General information
Firm type
Multi Family Office
Year founded
2021
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Ryan Sullivan
Managing Director
Greg Topel
Operating Partner
Scott Martin
Operating Partner
Brian Paul
Operating Partner
Ben Kirchhoff
Operating Partner
Sector focus
Frequently asked questions
Who runs investment decisions at North Park Group?
Ryan Sullivan serves as Managing Director and leads acquisitions. Greg Topel acts as Operating Partner and participates in deal sourcing and execution.
How does North Park Group source proprietary deal flow?
The firm draws on direct relationships with family-owned manufacturers and distributors. It also maintains membership in Axial as a recognized independent sponsor.
Is North Park Group structured as a single family office or does it operate more like a venture firm?
North Park Group functions as a multi-family office. It invests its own capital alongside capital from an investor base and structures each acquisition to match specific seller objectives.
Does North Park Group participate in fund commitments or only direct deals?
The firm executes direct acquisitions and holds companies through SPVs. It does not commit to external private equity funds.
What investment stages does North Park Group typically target?
North Park Group targets buyout opportunities in the lower middle market. It focuses on companies with established operations and family ownership histories.
Where does the underlying wealth come from?
The capital originates from the personal manufacturing-derived wealth of the founding operators, primarily Ryan Sullivan's prior ownership of Continental Materials Corporation.
What is North Park Group's known posture on co-investments alongside external GPs?
North Park Group does not co-invest alongside external GPs. It structures each transaction independently with its own capital and investor base.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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